Section 480 Of Article 2.5. Change In Ownership Reporting From California Revenue And Taxation Code >> Division 1. >> Part 2. >> Chapter 3. >> Article 2.5.
480
. (a) Whenever there occurs any change in ownership of real
property, a manufactured home, or a floating home that is subject to
local property taxation and is assessed by the county assessor, the
transferee shall file a signed change in ownership statement in the
county where the real property, manufactured home, or floating home
is located, as provided for in subdivision (c). In the case of a
change in ownership where the transferee is not locally assessed, no
change in ownership statement is required.
(b) The personal representative shall file a change in ownership
statement with the county recorder or assessor in each county in
which the decedent owned real property at the time of death that is
subject to probate proceedings. The statement shall be filed prior to
or at the time the inventory and appraisal is filed with the court
clerk. In all other cases in which an interest in real property is
transferred by reason of death, including a transfer through the
medium of a trust, the change in ownership statement or statements
shall be filed by the trustee (if the property was held in trust) or
the transferee with the county recorder or assessor in each county in
which the decedent owned an interest in real property within 150
days after the date of death.
(c) Except as provided in subdivision (d), the change in ownership
statement as required pursuant to subdivision (a) shall be declared
to be true under penalty of perjury and shall give that information
relative to the real property, manufactured home, or floating home
acquisition transaction as the board shall prescribe after
consultation with the California Assessors' Association. The
information shall include, but not be limited to, a description of
the property, the parties to the transaction, the date of
acquisition, the amount, if any, of the consideration paid for the
property, whether paid in money or otherwise, and the terms of the
transaction. The change in ownership statement shall not include any
question that is not germane to the assessment function. The
statement shall contain a notice informing the transferee of the
property tax relief available under Section 69.5. The statement shall
contain a notice that is printed, with the title in at least
12-point boldface type and the body in at least 8-point boldface
type, in the following form: